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Best Gas Rewards Credit Cards

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by Chris Thompson | Updated Jul. 12, 2018

Overview of the Best Gas Rewards Credit Cards

Buying gas is a near daily transaction in many people's lives, so the prospect of earning rewards for that spending couldn't be more welcome. Check out our choices for the best gas rewards credit cards, with different options depending on what you're most interested in getting back!



Best Overall Credit Card

More Details

  • No annual fee
  • New Offer: $200 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening
  • Earn 1% cash back on every purchase, 2% at grocery stores and wholesale clubs, and 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter
  • No changing categories and no expiration on rewards
  • 0% Introductory APR for 12 billing cycles for purchases AND for any balance transfers made in the first 60 days, then, 15.24% - 25.24% Variable APR. 3% fee (min $10) applies to balance transfers
  • Get a 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account
  • If you're a Preferred Rewards client, you can increase that bonus to 25% - 75%
  • Easily add your Mastercard® credit card to any digital wallet for a simple, secure, and convenient way to pay online, in-app, and in-store

Annual Fee

$0

Purchase Intro APR

0% Introductory APR on purchases for 12 billing cycles

Balance Transfer Intro APR

0% Intro APR for 12 billing cycles for balance transfers made in the first 60 days

Regular APR

15.24% - 25.24% Variable APR on purchases and balance transfers

Benefits

The Bank of America® Cash Rewards credit card offers some of the strongest cash back rewards on daily buys. This includes 3% cash back on gas, 2% cash back at grocery stores and wholesale clubs and 1% cash back on other purchases. However, all your spending between the 3% and 2% cash back categories (grocery/wholesale club/gas purchases) will be limited to a combined $2,500 each quarter.

If you spend at least $500 in the first 90 days you have the Bank of America® Cash Rewards credit card, you’ll earn $200 cash back. Also, Bank of America® customers will receive a 10% bonus when they redeem to their Bank of America® checking or savings account. If you are a Preferred Rewards client, you can increase that bonus to 25%-75%.

The impressive cash rewards you’re receiving won’t be dragged down by an unfavorable fee and interest rate structure, as you won’t have to pay an annual fee. The benefits don’t stop there though, as a 0% introductory APR for 12 billing cycles will apply to both purchases and any balance transfers posted to your account within 60 days of its opening.

Things to Consider

Unfortunately your 3% and 2% cash back earnings are subject to a $2,500 quarterly limit, with gas, grocery and wholesale club purchases getting combined. Once you’ve hit that cap, all three groupings will drop to 1% cash back, resetting at the dawn of the next quarter.

If you make a late payment, your account might be subject to an up to 29.99% variable penalty APR. Such a steep interest hike could cause major issues on your subsequent monthly bills, so be sure to pay on time.

Our Verdict

Even with the cash back limit imposed on your two highest earning rates, this card is undoubtedly a solid overall choice for your typical daily buys.

Best Gas Rewards Credit Card for Cash Back

More Details

  • Exclusively for Costco Members: Go Big with Cash Back Rewards
  • 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
  • 3% cash back on restaurants and eligible travel purchases
  • 2% cash back on all other purchases from Costco and Costco.com
  • 1% cash back on all other purchases

Annual Fee

$0

Purchase Intro APR

0% for 7 Months

Balance Transfer Intro APR

N/A

Regular APR

17.24% Variable

Benefits

Costco is one of the largest wholesale clubs in the world, boasting a member pool of nearly 100 million people. Its credit card, the Costco Anywhere Visa® Card by Citi, is an incredible cash back option by any standard, but especially when you’re at the pump.

As a cardholder, you’ll earn 4% cash back on eligible gas purchases, 3% cash back at restaurants and on eligible travel, 2% cash back on all Costco purchases and 1% cash back on other purchases. A rate of 4% is virtually unheard of, but it makes this card one of the strongest gas rewards cards you’ll ever encounter.

Your annual Costco membership charge takes the place of any additional annual fee, so there’s no extra costs to worry about in that sense. On top of that, there’s a 0% introductory purchase APR for seven months.

Things to Consider

That 4% cash back rate will only apply to your first $7,000 spent on fuel each year. Once you reach that limit, you’ll earn 1% cash back on gas purchases.

Our Verdict

If you’re a gas guzzler and you already have a Costco membership, you’ll likely want to strongly consider adding the Costco Anywhere Visa® Card to your wallet.

Best Branded Gas Rewards Credit Card

More Details

  • Introductory Offer: Earn 25¢ off** per gallon For every $100 you spend with your BP Visa® Credit Card or BP Credit Card for the first 90 days your account is open (excluding non-BP gas stations)
  • 25¢ off per gallon for every $100 you spend at BP
  • 15¢ off per gallon for every $100 you spend for eligible groceries, dining and travel
  • 5¢ off** per gallon for every $100 you spend everywhere Visa® credit cards are accepted (excluding non-BP gas stations)
  • No annual fee

Annual Fee

$0

Purchase Intro APR

N/A

Balance Transfer Intro APR

N/A

Regular APR

28.99% Variable

Benefits

The BP Visa® Credit Card’s rewards program might seem a bit confusing at first, but it actually can save you quite a bit of money on your fuel purchases with BP. Rewards rates are divided up into two times - your first 90 days as a cardholder and everything thereafter.

During those initial 90 days, you will accrue 25¢ per gallon on every $100 you spend, excluding non-BP gas stations. But following that time, you will earn 25¢ per gallon for every $100 spent on BP gas, 15¢ per gallon for every $100 spent on eligible groceries, dining out, and travel and 5¢ per gallon for every $100 spent on every other purchase (excluding non-BP gas stations).

Depending on what fits into your financial life more soundly, you can redeem your earnings either as a monthly statement credit or toward your purchases right at the pump. Statement credits are based on a 15 gallon amount, whereas BP fuel redemptions are limited at 20 gallons. So if you were to redeem 30¢ per gallon as a statement credit, you’d get back a credit of $4.50, as opposed to a literal per gallon discount at the pump.

Things to Consider

Watch out for this card’s 28.99% Variable APR, as a rate that high will build interest extremely fast.

While this probably shouldn’t be an issue, as prospective cardholders are likely buying gas regularly, you do need to make sure to use your rewards before they expire. This will occur 365 days after the conclusion of the month during which they were originally received.

Our Verdict

As far as company-specific, gas rewards cards go, there is no better choice than the BP Visa® Credit Card. It gives you significant opportunities to earn rewards, not only with BP, but also through your daily spending - a rare offer for such a card.

Best Gas Rewards Credit Card for Travel

More Details

  • Earn 50,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening*
  • Earn 3X Points on Travel, Including Gas Stations
  • Earn 2X Points on Dining Out & Entertainment
  • Earn 1X Points on All Other Purchases
  • 50,000 Points are redeemable for $625 in airfare at thankyou.com
  • No expiration and no limit to the amount of points you can earn with this card
  • Points Transfer allows you to transfer points to participating airline loyalty programs
  • No Foreign Transaction Fees on purchases*

Annual Fee

$95, waived for the first 12 months

Purchase Intro APR

N/A

Balance Transfer Intro APR

N/A

Regular APR

16.49%-25.49% Variable

Benefits

If you enjoy traveling, and fuel costs make up a considerable portion of your spending, the Citi ThankYou® Premier Card is beckoning to you. You will receive 3x points on travel -including gas stations, 2x points at restaurants and entertainment events and 1x points on all other purchases.

Once you’ve accumulated enough points to begin redeeming for airfare, completing that redemption through the Citi ThankYou® Travel Center would be wise, as your rewards will receive 25% more value for doing so. Book your flights whenever and with whoever you want, as there are no blackout dates or airline requirements with this card.

You can also use the Citi ThankYou® Premier Card when you’re traveling outside of the U.S., as purchases made abroad will not incur foreign transaction fees. There is a $95 annual fee but it doesn’t apply until your second year as a cardholder.

Things to Consider

The aforementioned $95 annual fee is easily the biggest detriment to this card, as it eats into your rewards after the first year

Our Verdict

Aside from a few high maintenance costs, this card has one of the most inclusive rewards programs on today’s market. This is especially true for those who spend a lot on gas, so if that’s you, you should consider this card carefully.

Methodology SmartAsset has developed a quantitative and independent system for evaluating the relative value of a credit card offer versus other offers in the marketplace. Our system evaluates cards based exclusively on their features, such as their rewards earning rate (if applicable), fees, perks, and rewards program redemption options. The annual rewards values on this page are calculated using annual spending assumptions in various categories such as, but not limited to, gas, restaurants, airfare, and US supermarkets. These spending assumptions are built on research that SmartAsset has conducted on existing travel credit cardholders. Our promise with our credit card recommendations is that we will always strive to have the most comprehensive, accurate, and objective method of evaluating credit card offers. Any recommendations are solely determined by the result of this research and model, and is never influenced by any fees, commissions, or other forms of compensation that SmartAsset may receive from credit card issuers for leads generated on our website.

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